Vocab 1
A building owner who people pay to live or work in a building?
landlord
Money paid every month to use a building owned by someone else?
rent
Type of business owned by 2 or more individuals?
partnership
Who is the building owner who people pay to live or work in the building?
landlord
A service provided to a home or business, such as water or electricity?
utility
Unfavorable conditions; a condition that makes something harder?
disadvantage
Something that is helpful and you benefit from?
advantage
A service provided to a home or business; such as water or electricity?
utility
A loan specifically for buying a house, another building, or land is called a?
mortgage
How often are utility bills paid?
each month
A loan specifically for buying a house, another building, or land?
mortgage
The process of distributing resources for the production of goods and services?
allocation
People who hold shares of stock in a corporation?
shareholders
Something that is helpful and you benefit from?
advantage
Unfavorable conditions; a condition that makes something harder?
business
Large business with many owners?
corporation
A business owned by one person?
sole proprietorship
There are 4 basic economic systems (traditional, command, market, and mixed) that are used to allocate resources.
True or False
True
A disadvantage of a sole proprietorship is that the owner provides all the money to start and operate the business. They also must pay all the bills and hire all the employees.
True or False
True
A promise to pay to use something for a specific amount of time?
lease
Shares of ownership in a company?
stocks
Which is an example of a sole proprietorship?
law firm, lawn care business, or Wal-Mart
lawn care business
Which is an example of a corporation?
lawn care business, Amazon, house cleaning service
Amazon